Legal Question in Construction Law in Florida
My corporation built my house 5 years ago.
Corporation invested over 325,000 in property.
I Browered 260,000 to finish it.
Now facing foreclosure.
Can the corporation put a lein on the property as successor in interest?
1 Answer from Attorneys
It depends on the agreement you had with the corporation. Was the money provided by the corporation a gift with no intent of return on the investment? Does the home revert to the corporation if you left the company? Was the money provided by the corporation a type of loan? I would recommend you have an attorney near you to review the original agreement between you and the corporation when the home was constructed. Unless the home sells for more than the amount owed to the primary lender, at the foreclosure sale, it will not matter if the corporation has a successor interest.
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